Wheaton Precious Metals (NYSE:WPM) Hits New 1-Year High at $54.45

Wheaton Precious Metals Corp. (NYSE:WPM) hit a new 52-week high on Friday . The stock traded as high as $54.45 and last traded at $53.95, with a volume of 167296 shares changing hands. The stock had previously closed at $53.73.

Analyst Upgrades and Downgrades

WPM has been the subject of several analyst reports. CIBC raised their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Berenberg Bank boosted their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Raymond James lowered their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.32.

Wheaton Precious Metals Price Performance

The firm has a 50-day moving average price of $46.73 and a 200 day moving average price of $46.43. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 45.38, a P/E/G ratio of 7.28 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The company had revenue of $313.47 million for the quarter, compared to the consensus estimate of $284.29 million. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.25 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were paid a $0.155 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is 52.10%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management boosted its stake in shares of Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after buying an additional 240 shares during the period. Parsons Capital Management Inc. RI lifted its stake in Wheaton Precious Metals by 0.4% during the third quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock worth $2,326,000 after purchasing an additional 250 shares during the last quarter. Transatlantique Private Wealth LLC lifted its stake in Wheaton Precious Metals by 3.6% during the third quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock worth $317,000 after purchasing an additional 270 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after purchasing an additional 273 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its stake in Wheaton Precious Metals by 2.1% during the third quarter. Pekin Hardy Strauss Inc. now owns 14,691 shares of the company’s stock worth $596,000 after purchasing an additional 302 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.